South Africa’s ruling African National Congress (ANC) denied a newspaper report on Thursday that President Jacob Zuma had accused the finance ministry of thwarting the party’s efforts to give blacks a bigger stake in the economy.

Citing sources that attended an ANC meeting of top leaders last week, Business Day newspaper said Zuma had accused the National Treasury of restricting funds for certain projects.

ANC spokesman Zizi Kodwa denied the president had attacked the ministry, saying the article was “poor journalism.”

“It’s not true. The President never said that,” Kodwa said.

Zuma’s spokesman Bongani Ngqulunga did not respond to telephone requests for comment.